NBCC Shares Hit 52-Week High After Rs 2,000-Cr Kerala Housing Order Win

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NBCC Wins Rs 2,000-Crore Order from Kerala State Housing Board

NBCC (India) Limited, a state-owned infrastructure enterprise under the Ministry of Housing and Urban Affairs, has seen its shares soar to a 52-week high of Rs 63.65 on September 6. This comes after the company announced that it has won a Rs 2,000-crore order from the Kerala State Housing Board for the development of a 17.9-acre land parcel at Kochi’s Marine Drive.

NBCC Stock Surges Over 15% in Last Five Trading Sessions

The company’s stock has surged over 15% in the last five trading sessions and has jumped an impressive 65% in the last six months. As of September 5 close, NBCC has a market cap of over Rs 10,700 crore.

Recent Successes for NBCC

This is not the only recent success for NBCC. On September 4, the company received a work order worth Rs 20 crore for planning, designing, and executing structural and non-structural repairs at Mint, Mumbai factory premises along with renovation works and structural and non-structural repairs of the residential quarters at Mint Premises, and the construction of a transit camp at Mint Colony, Parel, Mumbai.

In August, NBCC bagged another work order worth Rs 66.32 crore from the Indian Medical Association for planning, designing, and execution of IMA House at Indraprastha, New Delhi. The order is expected to be executed within 30 months.

About NBCC

NBCC operates in three major segments - real estate, project management consultancy, and engineering procurement & construction. The company reported a total operating revenue of Rs 8,754.44 crore for the last financial year FY 2022-23.

Conclusion

It’s an exciting time for NBCC as it continues to win new orders and see its stock price rise. Keep an eye on this company as it continues to make waves in the infrastructure industry.

Disclaimer

This blog post is for informational purposes only and should not be considered as investment advice. Please consult with a financial advisor before making any investment decisions.

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